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New York—Which major upscale retailer has won over more consumers with its omnichannel efforts than others have? According to the Luxury Institute’s release of its 2015 Luxury Multichannel Engagement Index (LMEI), it’s Nordstrom, the Seattle-based retailer known not only for its accommodating sales staff but also for its successful e-commerce …

New York—When it comes to providing the luxury retail experience—either online or in store—one retailer rises above: Neiman Marcus. In the first of its Luxury Multichannel Engagement Index (LMEI), the Luxury Institute queried affluent consumers with household income of at least $150,000 to share opinions and rankings of online and …

New York—As recent retail earnings reports show, consumers are being quite discerning about spending their dollars. Loyalty and rewards programs are a proven way for retailers to spur interest in shopping. In a new survey of affluent consumers released this week by the Luxury Institute, wealthy shoppers earning at least …

New York—Which brands do America’s ultra-wealthy consumers like best? Tiffany & Co. and Michael Kors. That’s what the Luxury Institute found when it recently asked U.S. consumers with a minimum net worth of $5 million about what luxury brands they buy and their relationships with those luxury brands sales associates. …

New York—You don’t have to have a net worth of $5 million or more to know that high-end retailers, such as Nordstrom, Bloomingdale’s and Neiman Marcus are known for having expert, knowledgeable sales associates. But in its recent survey of “pentamillionaires,” The Luxury Institute asked consumers with net worths of …

New York—Although a new survey of ultra-wealthy U.S. consumers by the Luxury Institute found pentamillionaires plan to spend more money this year on travel, dining out and their wine cellars, 80% said luxurygoods are less important. In its 2013 State of the Luxury Industry report released Tuesday, the Luxury Institute …

New York—Superior craftsmanship, materials and customer service—not slapped on status and designer names—is what affluent consumers are looking for in their luxurygoods purchases. With luxurygoods rebounding following the Great Recession, upscale consumers overwhelmingly favor long-lasting, high quality product over one that merely enhanced status, according to a survey conducted in …

New York—Graff Diamonds may have had to postpone its $1 billion IPO in Hong Kong last month due to “adverse market conditions,” but the London-based jeweler can rest assured that America’s millionaires think it is tops among the world’s high end jewelry brands. That’s the word from the 2012 Luxury …

New York—Retail analysts are anxiously awaiting Nordstrom’s first quarter earnings report on Thursday afternoon in order to get a clearer picture of how the luxury market is doing. If affluent shoppers are continuing to spend—or spend more—that bodes well for the economy as a whole. But if you ask affluent shoppers …

New York—The next top luxury shopping venue may be as close as a mobile phone or table computer. In “Mobile Apps and Commerce for Luxury Brand,” a report from the Luxury Institute and Plastic Mobile released today, most affluent smartphone users who are downloading luxury apps are using them to …

Market analysts predict a very different retail landscape 2010 is looking up to be a pivotal year, one that many retail analyst and forecasters predict will mark a major historical shift in how retail is defined and conducted. There’s definitely a cautious optimism in the air as most see consumers …